Over 9,000 flats sold in Mumbai till July, Rs 566 cr generated through stamp duty

Currently, in the state, 5% stamp duty is charged on property. However, women buyers are charged 4% stamp duty on property purchases

Staff ReporterUpdated: Sunday, August 01, 2021, 03:13 AM IST
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Mumbai: In Mumbai, over 9,823 conveyance deeds have been registered by the end of July. These are the figures given by the Department of Registration & Stamps, Government of Maharashtra. With this, the state has generated revenue of Rs 566.80 crore through stamp duty.

Similarly, across the state, a total of 13,6337 properties were sold, generating a revenue of Rs 1,835.08 crore.

Currently, in the state, 5% stamp duty is charged on property. However, women buyers are charged 4% stamp duty on property purchases. The state government had given concessions in stamp duty by 3% to 2% till March. Due to this, there was a sharp rise in property buying, especially during the first wave. Interestingly, after March the realty market witnessed a slowdown. However, from June, sales picked up.

Meanwhile, leading developers continue to insist that the government provide concessions in stamp duty in order to encourage home buyers.

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